How do you trade PI coin?

Learn about PI coin, including its price history, the Pi Network blockchain, how it works, and how to trade PI/USD via CFDs.

Trade now. Try demo

What is PI coin?

PI coin (PI) is the native token of Pi Network – a layer 1 blockchain developed by a team of Stanford graduates. Pi Network released its first whitepaper in 2019, in which the team outlined its aim to make cryptocurrency more accessible.

Pi Network launched its open mainnet on 20 February 2025. This transition removed prior restrictions, allowing verified users to transfer PI to external wallets and interact with other blockchain networks. Its blockchain supports smart contracts and hosts decentralised applications (dApps), while PI itself is mineable via a dedicated mobile app.

How does PI coin work?

PI coin is the native asset of Pi Network – a decentralised layer 1 blockchain that uses a custom consensus mechanism based on the Stellar Consensus Protocol.

Users can mine PI coins on the Pi Network mobile app by checking in daily, and selecting 3-5 trusted users to build a decentralised ‘security circle’ – a trust-based network that replaces proof-of-work (PoW) validation. No specialised hardware or high energy input is required, unlike PoW systems.

The total supply of PI is capped at 100bn coins, including pre-mined allocations for network incentives. As of 2 May 2025, there’s approximately 6.99bn PI in circulation.

PI coin vs Bitcoin: What are the differences?

PI coin is the cryptocurrency of Pi Network, a blockchain designed to provide the advantages of pre-existing blockchain networks, such as Bitcoin (BTC) – whilst avoiding the drawbacks.

Here’s how PI coin and BTC compare:

Pi Network transitioned to an open mainnet in February 2025, enabling external wallet interoperability after operating in an enclosed ecosystem since 2021. Meanwhile, BTC has unparalleled institutional adoption – but unlike Pi Network – bitcoin mining is energy intensive.

Learn more about bitcoin (BTC) and how to trade it: Read our BTC trading guide.

What’s the PI coin price history?

Between 2019 and 2024, before its public launch, PI was mined via the Pi Network mobile app and circulated only within the network’s enclosed mainnet. Unofficial OTC trades and IOU-based listings appeared on some platforms during this time. However, these figures were speculative and not based on on-chain liquidity.

Pi Network launched its open mainnet on 20 February 2025, enabling PI coin transfers to external wallets, trading directly on exchanges and via contracts for difference (CFDs). PI coin closed at $2.1377 on 28 February 2025, reflecting initial demand from its community and speculative interest around the network’s public launch. The price reached an all-time high of $3.14 on 4 March but declined in the following weeks amid token unlocks and low liquidity.

By 31 March 2025, PI had fallen to $0.7168 – down 77.2% from its peak. The price continued to drift lower in April, closing the month at $0.6145.

What influences PI coin’s price?

PI coin’s price may be influenced by several factors, including mainnet activity, liquidity conditions, token unlock schedules, and broader cryptocurrency market trends.

Mainnet usage and ecosystem growth

Pi Network launched its mainnet on 20 February 2025, and since then, network activity has become a key price driver. Track metrics such as wallet activations, transaction volumes, and dApp usage help gauge demand. This information should be publicly available because Pi Network is decentralised, with an open ledger. Limited adoption or technical issues could dampen price momentum, while rising utility and application development may support it.

Exchange availability and trading access

PI is not yet listed on major centralised exchanges. Trading occurs through a few cryptocurrency exchanges, select CFD brokers, or via unofficial IOU-based instruments. Limited availability can negatively impact liquidity, potentially increasing volatility. More exchange listings, or listings on major exchanges, could improve access and influence short-term price movements.

Supply dynamics and unlock events

Pi Network’s total supply is capped at 100bn PI, with approximately 6.99bn in circulation as of May 2025. Future token unlocks – including ecosystem rewards and developer allocations – may pose risks of increased selling pressure. Market participants monitor updates to the project’s token release schedule and mining rate adjustments.

Broader market sentiment and macro factors

PI’s price tends to reflect trends in the wider cryptocurrency market. BTCs performance, regulatory developments, and macroeconomic conditions all play a role. In April 2025, broader market volatility contributed to price declines across the altcoin space, including PI.

Pi Network price prediction: What’s next for PI coin?

PI’s future price direction could depend on user migration, ecosystem activity, and exchange access. Further volatility is possible if new exchange listings, ecosystem updates, or changes to token unlock schedules are announced.

While third-party forecasts remain mixed, PI’s price is expected to remain speculative and event-driven until the network achieves wider adoption and deeper market integration.

What are the PI coin trading hours?

PI coin is transacted on a decentralised blockchain network. It’s available 24 hours a day, seven days a week – which means you can trade PI at any time – including weekends and holidays.

• Buy or sell PI on an exchange – you can trade PI directly on select cryptocurrency exchanges. Many provide 24/7 trading, allowing for continuous market participation.

• Trade CFDs on PI – a limited number of trusted brokerages provide PI trading via contracts for difference (CFDs), which allows you to speculate on whether PI’s price will rise or fall.

Monitoring Pi-specific developments like dApp adoption, compatibility with external blockchains, and merchant adoption initiatives helps track fundamental events affecting its value.

How to buy and trade PI coin

PI coin is available to trade on a limited number of cryptocurrency exchanges and CFD brokers.

To buy PI directly, you’ll need a wallet that supports the Pi Network blockchain, and a compatible token (or fiat currency) such as BTC or ETH to exchange for PI.

Alternatively, you could trade PI/USD using contracts for difference (CFDs). A CFD is a derivative that allows you to speculate on PI’s price without owning the underlying asset. You can go long (buy) if you think PI will rise, or short (sell) if you expect it to fall. CFDs are leveraged products, meaning you can gain larger exposure with a smaller deposit – but this also increases the risk of losses.

You can learn more about trading cryptocurrencies with Capital.com in our comprehensive guide to cryptocurrency trading.

Trade now. Try demo

FAQ